Health tech deal: IntegriChain buys PharmaMetrics
Creating a 110-person, $25M-annual subscriber sales software firm
IntegriChain, an 80-person Center City healthcare software firm that calls itself "the leading provider of pharmaceutical channel data" about inventory and shipping to most of the 20 largest U.S. drugmakers, has acquired PharmaMetrics, a payer-analytics firm in Fort Washington whose subscribers are mostly smaller drugmakers.
Around 30 PharmaMetrics staff are joining IntegriChain. The buyer won't say how much it agreed to pay. The combined firms expect sales of around $25 million this year. Sellers are PharmaMetrics CEO John Still and COO David Carlson. Statement here.
It's IntegriChain's biggest acquisition since tech buyout firm Accel-KKR bought a controlling share of the company a year ago. IntegriChain, founded by CEO Kevin Leininger and EVP Josh Halpern, moved to what it calls "cool tech" space in Philadelphia from Princeton last year, and expanded parental leave and student loan payment contributions to help expand its staff.